EPFO to Launch New Mobile App for Instant PF Withdrawals via UPI

• EPFO is set to launch a new mobile app by end of March, enabling subscribers to withdraw PF money directly via UPI.
• The new app will differ from the existing UMANG app, linking directly to bank accounts and integrating with BHIM and other UPI apps.
• PF money will first transfer to the subscriber's bank account, then be available for UPI withdrawal.
• Subscribers can withdraw up to 75% of their EPF balance, with 25% mandatory to remain in the account.
• The new app aims to make PF withdrawals faster, easier, and more digital, reducing processing times.